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Operations management (OM) is the administration of business practices to create the highest level of efficiency possible within an organization.
Operations management covers sectors like banking systems, hospitals, companies, working with suppliers, customers, and using technology. Operations is one of the major functions in an organization along with supply chains, marketing, finance and human resources.
When we talk about “operations” in the context of a business, we are referring to the processes and inner workings that allow a company to run as efficiently as possible.
In this article, we explain what operations management is and discuss its importance and the responsibilities and skills an operations manager has.